LBJ Office Brokers Reveal All!

Okay, we all know about the construction project along LBJ, but that is not the only thing happening.  Sounds like investors are looking for deals along LBJ and see it as the next hot spot!

-        One Graystone -   3 weeks ago the building was without air-conditioning for an entire week.  They have now installed 2 new coolers.  Younan still plans to spend $500,000 on lobby and $300,000 on corridor/restroom renovations.  

-        5728 LBJ, at Montfort and LBJ, is for sale at $70 SF.  The building is 70,000 SF and has just one 7,000 SF tenant – 7.2% leased.  At this price they aren’t really getting many offers.

 

-        Heritage Square is coming to market at a rumored $80 SF.  The project is around 71% leased.

 

-        9401 LBJ and North Creek II, at Abrams and LBJ, are for sale at $9 million. 

 

-        Abrams Centre is offering 8% commission to the Tenant’s Brokers.

 

-        Wingstop leased 25,070 SF at The Crossings – 5501 LBJ.  Goddard is really the only owner on LBJ that could pull off this deal.  Wingstop has quite a bit of term left in Richardson.  The building is 77% leased and they are quoting $17 SF + E. 

 

-        Also at 5501 LBJ – Dimont & Assoc is vacating 22,000 SF in November. . purchased by Wingspan and moving to Duke Bridges.

LBJ Broker's reveal all.

Construction doesn't scare us.

My comp is better than your comp